A balloon payment is a lump sum amount due at the end of the loan term. Including a balloon payment in your chattel mortgage lowers your monthly repayments during the loan term, making it more affordable. The balloon amount can be refinanced or paid in full at the end of the contract.
About Commercial Chattel Mortgage
Stratton Finance is your trusted finance broker partner when it comes to commercial chattel mortgage finance solutions tailored to your business needs. Whether you're a growing enterprise looking to secure your fleet of vehicles or an established business planning to invest in new equipment, we assist in sourcing the right finance solution tailored to your needs.
What is a Commercial Chattel Mortgage?
A Commercial Chattel Mortgage is a finance product in which the customer takes ownership of the vehicle (chattel) at the time of purchase. It allows you complete ownership of the asset while it serves as financial security — potentially accompanied by additional tax benefits.
Stratton Finance offers diverse commercial loan alternatives, including chattel mortgage and hire purchase arrangements catering to Australian businesses. Our skilled team of brokers liaises with over 40 lenders on our panel, ensuring you receive competitive repayment plans conforming to your budgetary requirements.
Once you engage with Stratton Finance, you'll experience dedicated service from your personal broker, who will provide professional advice and guide you toward selecting an option that aligns with your financial objectives.
Try our easy commercial loan calculator to estimate the finance repayments for your potential investment, or use our quoting tool to explore the various rates and repayment plans offered by our panel of lenders.
When partnering with Stratton Finance, you’re accessing a team with seasoned financial experts across all major cities including Melbourne, Sydney, Brisbane as well as across our regional network around Australia, who prioritise understanding your situation above all else. Our dedicated brokers are committed to supporting and guiding you through every step of your Commercial Chattel Mortgage journey – from initial enquiry right through to getting the keys in your hands.
You’ll be matched with a dedicated broker who will be your single point of contact throughout the process. They’ll take the time to understand your commercial purchase plans, personal details, work history, income, and expenses, helping to create a tailored preliminary assessment for your finance needs. Your broker will then present options tailored to your budget and financial goals.
Not only will Stratton help you secure a Commercial Chattel Mortgage package that fits your needs, but can also offer comprehensive insurance solutions for your purchase. Start your loan process with Stratton today and enjoy a seamless process that lets you embark on your next business adventure.
Am I Eligible?
Eligibility criteria vary depending on your circumstances and lender requirements. Working with Stratton gives you access to a broad range of lenders, each with flexible terms. Your broker will work closely with you to secure the best commercial finance rate and repayment options tailored to your needs. Some criteria that will be evaluated include:
- Your business status
- How long you’ve been operating or holding an ABN
- Your credit history – We handle this
- Your residency status
- Your financial history
- Your assets, liabilities, expenses and savings
Benefits of a Commercial Chattel Mortgage with Stratton
Anytime, Anywhere, Anyhow
Stratton Finance provides you with the convenience to decide how you want to proceed with your commercial finance application process. You can choose to speak with our dedicated local team members or apply online.
Financial Flexibility
Our lenders provide a range of flexible options, such as no fees for early termination, varying loan terms, and the option to include a residual/balloon payment.
Lifetime Support
Stratton Finance is here to assist you throughout the duration of your loan. Whether you need help determining your outstanding balance, updating your details, or evaluating your changeover options, we're always ready to help.
Why Choose Stratton For Commercial Finance?
Award-Winning Brokers
Best Car Loans by ProductReview 2021–2024 and Best Large-Size Brokerage by WeMoney 2023 & 2024!
We Have Unmatched Experience
With over 25 years of experience helping more than 150,000 people access $8 billion in finance, we have the knowledge you need.
Real People Delivering Exceptional Service
With a 4.8 out of 5 customer rating, we are focused on providing outstanding service to keep you informed at every step, ensuring the best outcome for you.
Commercial Finance Options
We can assist with a variety of commercial finance options:
The Awards
A leading Australian Finance Broker with proven experience you can trust
Our Lenders
We have done the hard work building relationships with lenders so you get the best rates! Some of the lenders on our curated panel include:
Our Process: Simple and Transparent Commercial Financing
From start to finish, we’re with you every step of the way, helping you get the keys or funds in your hands!
How it all works
Understanding Your Needs
We don’t treat you like just another number. Our brokers take the time to understand your specific needs to find the best commercial finance options from our panel of over 40 lenders.
Apply for the Right Deal
Once you are happy with an option that fits for you, your broker will take you through the application. Approvals can occur within 24 to 48 hours.
Get the Keys in Your Hands
If approved, we guide you through the settlement process to finalise the paperwork and payment. Once everything is settled, you’re ready to collect the funds you need and grow your business with confidence.
Providing Ongoing Support
Stratton Finance supports you throughout the life of your loan, ensuring you always have the assistance you need.
Frequently Asked Questions About Commercial Finance
A chattel mortgage can finance a wide range of business-use vehicles and equipment, including cars, trucks, vans, and commercial vehicles, as well as machinery, tools, and technology required for business operations.
Benefits of a chattel mortgage include flexible loan repayment periods, the option to reduce the monthly repayments by setting a final balance (residual value or balloon), the potential to claim tax deductions if the car is used for business purposes* and the potential to claim Input Tax Credits if you are registered for GST*
A chattel mortgage can also have additional benefits (subject to lender selection), including a fixed interest rate and monthly repayments for the duration of the loan, as well as repayments that can be aligned with your or your business's cash flow.
*Please check with your accountant for eligibility
If the car is being used for business purposes, you may be able to claim a tax deduction on the loan interest charges, as well as on the depreciation value of the vehicle, up to the Depreciation Limit set by the Australian Tax Office. Speak to your accountant to find out more.